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Amerigo Vespucci
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Sat Feb-12-11 10:10 PM Original message |
| Borders Bankruptcy Coming Next Week |
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Source: The Huffington Post
NEW YORK — Borders Group Inc. may file for bankruptcy reorganization as early as Monday or Tuesday, according to a report in the Wall Street Journal. The No. 2 traditional bookstore in the U.S. also plans to close about 200 of its 674 stores and cut thousands of jobs, the newspaper reported on Friday, citing sources it did not name. The story also says Borders is hearing pitches from Bank of America Corp. and General Electric Co.'s finance arm for $450 million in financing to keep operating under bankruptcy protection. "There have been constant inquiries by reporters, and stories written, regarding whether Borders is considering a Chapter 11 filing," said Borders spokeswoman Mary Davis. "Borders is not prepared at this time to report on the course of action it will pursue." Read more: http://www.huffingtonpost.com/2011/02/12/borders-bankruptcy-detail_n_822128.html  |
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